MetaTrader 4 (MT4) is a powerful and widely-used trading platform, especially popular in the forex world. However, finding a crypto broker that fully supports MT4 can be a challenge. This guide reviews the top crypto brokers compatible with MT4, highlighting their key features, strengths, and weaknesses to help you make an informed choice.
Why Use a Crypto Broker with MT4 Support?
MT4 is renowned for its advanced charting capabilities, numerous technical indicators, and support for automated trading through Expert Advisors (EAs). For traders already familiar with the MT4 interface, using it for crypto trading can provide a seamless experience. It allows for sophisticated strategy implementation and detailed market analysis.
Top Crypto Brokers for MT4: A Detailed Comparison
We have analyzed and compared several leading brokers that offer MT4 support for cryptocurrency trading. The following table provides a quick overview of their key features.
| Crypto Broker | Crypto Assets | Trading Fees | Rating |
|---|---|---|---|
| Bybit | 442 | 0.1% (spot), 0.02%/0.055% (futures) | 4.8/5 |
| Eightcap | 81 | Variable spread | 4.2/5 |
| Hugo's Way FX | 30 | $5 per lot | 4.1/5 |
| IG | 15 | Variable spread + overnight financing | 3.9/5 |
| Pepperstone | 20 | Variable spread | 3.9/5 |
| FP Markets | 15 | Variable spread | 3.8/5 |
| XBTFX | 91 | $0.10 per trade (variable) | 3.5/5 |
| Nord FX | 5 | 0.09% | 3.4/5 |
In-Depth Reviews of the Best MT4 Crypto Brokers
Bybit: Overall Best Crypto Broker for MT4
Why we picked it: Bybit stands out as a dedicated cryptocurrency exchange that integrates seamlessly with MT4. It offers an impressive range of over 440 cryptocurrencies and highly competitive trading fees. Its platform is packed with crypto-specific tools, making it an excellent choice for serious traders.
While it doesn't support direct fiat currency deposits, you can easily purchase crypto through its one-click buy tool or peer-to-peer (P2P) marketplace. Bybit supports a vast array of trading instruments, including spot markets, derivatives with high leverage, and even crypto options.
Its fee structure is straightforward: 0.1% for spot transactions and 0.02% (maker)/0.06% (taker) for derivatives pairs. The platform offers robust charting tools powered by TradingView, trading bots, copy trading, and additional financial products like staking and a crypto debit card.
Pros:
- Exceptionally low trading fees
- Unmatched selection of cryptocurrencies
- Rich suite of crypto-centric tools and features
Cons:
- No direct support for fiat currency deposits
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Eightcap: Best for Connectivity and Customization
Why we picked it: Eightcap is a global broker known for its excellent outside connectivity. It allows users to trade forex, commodities, and crypto CFDs. Its strength lies in its ability to connect with third-party platforms like Capitalise.ai for automated trading and BK Crypto Crusher for market scanning.
It supports 81 crypto trading pairs and offers a variety of deposit methods, though available options depend on your account's base currency. Fees are based on a variable spread model. Eightcap provides a custom MetaTrader terminal and also supports linking accounts to TradingView for advanced charting and scripting.
Pros:
- Good selection of cryptocurrencies
- Multiple payment and deposit methods
- Superior connectivity with external trading tools
Cons:
- Deposit methods are currency-specific
- Spread-based fees can be less transparent
Hugo's Way FX: Best for Simple, Flat Trading Fees
Why we picked it: Hugo's Way FX offers a simple and transparent fee structure of a flat $5 per lot, with no volume-based discounts. This makes it easy for traders of all sizes to calculate costs upfront. It supports 30 crypto CFD pairs with leverage up to 100x.
A significant advantage is the ability to fund your account directly with cryptocurrencies. It supports both the downloadable MT4 client and MT4 WebTrader, allowing users to trade from any device. It also allows for multiple trading accounts for different asset classes.
Pros:
- Simple, easy-to-understand flat fee
- Support for crypto deposits
- Accessible via MT4 WebTrader
Cons:
- Smaller selection of cryptocurrencies compared to dedicated exchanges
- Lower maximum leverage on crypto pairs
IG: Best for Professional Traders
Why we picked it: IG is a massive, well-regulated CFD broker with a long history. It offers a professional-grade trading experience with support for MT4 and its own advanced platform. However, access to cryptocurrency trading is restricted to users with professional account status.
It offers a limited selection of 15 crypto assets. Fees are based on a variable spread plus an overnight financing charge. IG provides extensive market analysis, news, and a wide range of other investment products like ISAs and managed portfolios, making it more than just a trading platform.
Pros:
- Highly regulated and secure
- Access to a wide array of investment products
- Comprehensive market research and analysis tools
Cons:
- Crypto trading is only for professional accounts
- Very limited selection of crypto assets
Pepperstone: Best Regulated Broker for MT4
Why we picked it: Pepperstone is another heavily regulated broker (by ASIC, CySEC, and the FCA) that provides a secure environment for trading crypto CFDs. It is focused purely on active trading and offers demo accounts for practice.
It supports 20 crypto pairs and several crypto index CFDs. Fees are spread-based. A key strength is its multi-platform support; users can trade via MT4, MT5, cTrader, and TradingView on desktop, mobile, and web.
Pros:
- Strong regulatory oversight
- Excellent multi-platform accessibility
- Demo accounts available
Cons:
- Limited number of crypto pairs
- Offers relatively low leverage on crypto
FP Markets: Best for Deposit Method Variety
Why we picked it: FP Markets excels in offering a wide variety of deposit methods, including bank transfers, cards, Apple Pay, Google Pay, and even cryptocurrency deposits. This makes funding an account very convenient for a global audience.
It supports 15 crypto CFDs. Fees are competitive and spread-based. The broker supports MT4, MT5, and cTrader. Additionally, it offers social trading (copy trading) capabilities and integrates with Autochartist for automated market reports.
Pros:
- Numerous deposit options, including crypto
- Social trading features
- Competitive trading fees
Cons:
- Limited cryptocurrency selection
- User interface can feel outdated
XBTFX: Best for Forex Traders Transitioning to Crypto
Why we picked it: XBTFX uniquely blends traditional forex broker features with cryptocurrency trading. It is an ideal platform for forex traders who want to start trading crypto CFDs, as the environment will feel familiar.
It supports a strong selection of 91 crypto CFDs. However, funding an account requires depositing cryptocurrency, as no fiat options are available. It supports linking to MT4, MT5, and cTrader. The fee structure can be confusing due to different account types (Standard, Islamic, ECN).
Pros:
- Great for traders familiar with forex platforms
- Good range of crypto CFDs
- Supports multiple popular trading platforms
Cons:
- Complex fee structure across account types
- No spot market trading or fiat deposits
Nord FX: Best for Diverse Deposit Methods
Why we picked it: Nord FX supports a wide array of deposit methods, including many fiat currencies through local providers and several cryptocurrencies. It also offers unique features like copy trading and investment funds, making it a more well-rounded platform for both trading and investing.
Its main drawback is a very limited crypto selection—only 5 major coins. It uses a simple maker/taker fee model of 0.09%. It should be noted that Nord FX only offers a downloadable MT4 client for Windows, Android, and iOS, with no web or macOS support.
Pros:
- Low, straightforward fees
- Copy trading functionality
- Diverse investment products
Cons:
- Very few supported cryptocurrencies
- Lacks WebTrader and macOS support
Key Factors to Consider When Choosing an MT4 Crypto Broker
Selecting the right broker involves more than just MT4 compatibility. Here are the most important criteria to evaluate.
Trading Fees and Cost Structure
Understand how the broker charges fees. Is it a flat commission, a spread, or a maker/taker model? Look for low, transparent fees and be wary of hidden costs like inactivity or withdrawal fees.
Supported Cryptocurrencies
The number and variety of crypto assets matter. Dedicated crypto exchanges like Bybit offer hundreds of coins, while traditional brokers often have a much smaller selection focused on major coins.
Available Trading Tools and Features
Consider the tools that come with the platform. Does it support automated trading? Are there advanced charting packages, market scanners, or social trading features? These can significantly enhance your trading efficiency.
Regulation and Security
Ensure the broker is regulated by a reputable authority, which provides a layer of security and recourse for traders. However, note that stricter regulation can sometimes limit available products like crypto CFDs.
Deposit and Withdrawal Methods
Check what funding options are available. Can you deposit fiat currency easily? Does the broker support crypto deposits? Variety and convenience in funding methods are crucial for a smooth experience.
Frequently Asked Questions
What is the lowest fee MT4 crypto broker?
While many brokers use variable spreads, making direct comparison difficult, Bybit often comes out ahead with its flat fee structure of 0.1% for spot trading and 0.02%/0.055% for derivatives, making it one of the most cost-effective options on average.
Should I use MetaTrader 4 (MT4) or MetaTrader 5 (MT5) for crypto?
MT5 is technically more advanced, supporting more timeframes and order types. However, MT4 remains the industry standard with broader broker support, a larger library of custom indicators, and Expert Advisors (EAs). For most crypto traders starting out, MT4's widespread adoption and familiarity make it a solid choice.
What is the best all-around MetaTrader broker for crypto?
Based on our analysis, Bybit is the best overall choice. It combines the largest selection of cryptocurrencies with some of the lowest fees in the industry. As a dedicated crypto exchange, it offers tools and features specifically designed for digital asset trading.
Which MT4 broker supports the most cryptocurrencies?
Bybit supports the most cryptocurrencies by a significant margin, with over 440 assets available for trading. This is because it is a dedicated cryptocurrency exchange, unlike many brokers who started in forex and later added crypto.
Can I trade actual cryptocurrencies on MT4, or are they all CFDs?
This depends entirely on the broker. Many traditional brokers only offer cryptocurrency CFDs (Contract for Difference), which means you are speculating on the price movement without owning the underlying asset. Some brokers, particularly dedicated crypto exchanges that support MT4, may offer spot trading where you actually buy and sell the crypto assets. Always check the instrument details with your broker.